Information Minister Marriyum Aurangzeb announced on Thursday that the government would ban the import of 38 non-essential luxury goods under an “emergency economic plan”.
She made the announcement at a press conference in Islamabad. Shortly afterward, Prime Minister Shebaz Sharif tweeted: “This decision is the country’s precious foreign exchange.”
“Putting austerity and having more financially stronger people lead in this effort, we will ensure that the marginalized of us do not bear this burden placed on us by the PTI government,” he said. Determination and Determination”
The decision comes as the dollar has seen the dollar rise sharply against the rupee over the past few weeks as a result of rising US import laws, growing current account deficits and depleting foreign exchange reserves. On Thursday, the dollar broke all records and soared to Rs200 in the interbank market.
At the press conference, the intelligence minister reassured the country that Prime Minister Shehbaz is “working day and night to stabilize the economy”.
In light of this, Aurangzeb announced that it has decided to completely ban the import of non-essential luxury goods. She identified imported cars as one of those items and said, “This item is not used by the general public.”
List of prohibited items
- Cell Phone
- home appliances
- Fruits and dried fruits (except Afghanistan)
- personal weapons and ammunition
- Chandeliers and lights (excluding energy savers)
- headphones and loudspeaker
- door and window frames
- suitcases and suitcases
- sanitary ware
- fish and frozen fish
- Carpets (except Afghanistan)
- preserved fruit
- tissue paper
- luxury mattresses and sleeping bags
- jam and jelly
- heater, blower
- kitchen utensils
- aerated water
- frozen meat
- Ice cream
- shaving products
- luxury leather clothing
- Hair dryer and other beauty salon supplies
It’s an “emergency” and Pakistanis will have to make sacrifices according to their economic plan, she added, adding that the impact of the ban could be around $6 billion.
She said import orders that have already been opened or paid for will be processed but will not accept new orders.
“We will have to reduce our dependence on imports,” she added. “The government is now focusing on exports.” According to the government’s economic plan, the minister said the local industry will prosper and employment opportunities will be created.
She said the new measures would also affect the current account deficit, adding that the measures were taken under an “emergency economic plan.” She said a meeting on how to reduce the impact of energy prices on consumers will also be held later today.
Aurangzeb criticized the former PTI-led government, saying that former Prime Minister Imran Khan had put everything about his regime to the background. She pointed to the PTI government for committing “economic terrorism” and the exponential rise in inflation.
“He promised no money. [fuel] I got a subsidy and played with the economy. He was trying to trap the next government,” she claims, adding that Imran was woefully unaware of the country’s economic problems.
The Secretary rejected PTI’s continued demand for early elections, arguing that the government and its allies will make decisions in this regard, not in the opposite direction. “It is our decision when to hold an election,” he said. […] “If I was going to vote, I would have done it before the no-confidence motion was submitted,” he said.
Aurangzeb argued that only the current government could save the country from the current economic crisis. The prime minister is working to reduce inflation, but such a decision will require a 24-hour effort, she said.
“We have the ability and experience to solve the current economic problems. The measure to ban imported items is aimed at economic stability.”
In response to the question, the minister also said that Prime Minister Shevaz would give a public address within a day or two and “explain the whole situation”.
The action will be meaningless.”
Meanwhile, PTI leader Hammad Azhar questioned the government’s move, arguing that these items account for a small percentage of the country’s import bill.
“Millions of merchants and shopkeepers will be impacted by these measures,” he tweeted, adding that “it will also affect trade between the two countries” and will also contribute to increased smuggling.
“The non-petroleum current account deficit is just under $1 billion. A ban on these items will not matter,” he predicted.